Market Update: The inability to bounce speaks volumes. The bulls were disappointed on Thursday after the bears showed up and sent stocks lower. Before the open, futures were higher after oil prices spiked nearly 5%. The Dow Jones Industrial Average and S&P 500 pulled right into their respective 50 DMA lines and were due to…
Market Update: The bulls have to show up soon otherwise we are heading much lower because we have seen this pattern play out before. Most recently, the market broke out of a bullish double bottom pattern in Aug-Oct. Then it moved sideways for most of Nov and all of December before falling hard in Jan-Feb….
Once again, after a 2.5 month hiatus, sellers are showing up and putting pressure on several key areas of the market. Short-term, the major indices are pulling back after a strong rally right into major resistance (prior chart highs). Economic and earnings data…
Housekeeping: Unless we see a huge market move- this will be our only update this week.. Market Update: The Fed meets today and we expect them to be dovish (reiterate their easy money stance). That should be bullish for the major indices. Stepping back it is more of the same, the beaten down areas (mainly…